Responses to the Coup d'etat in Honduras on Sunday June 28, with special emphasis on producing English-language versions of commentaries by Honduran scholars and editorial writers and addressing the confusion encouraged by lack of basic knowledge about Honduras.
Saturday, October 3, 2009
Insurrection In Investment/Pension Funds
Pension and Investment funds are not regulated by the BCH, and there's every indication that they've decided not to comply with the rule according to El Heraldo. José Luis Moncada, president of the National Commission of Banks and Securities (CNBS) said "these institutions have the order, but the decision belongs to the directorate of each institution. Most have withdrawn nothing." "The CNBS does not have the legal power to sanction them."
Among the funds that have not withdrawn their money from the BCIE are INJUMPEMP (Instituto Nacional de Jubilaciones y Pensiones de los Empleados Públicos ), INPREMA (Instituto de Previsión del Magisterio) and IHSS (Instituto Hondureño de Seguridad Social). Combined, their deposits in the BCIE total some $57 million, out of $129 million that all of Honduras had deposited in the BCIE.
The de facto government's Secretary of Finance, Gabriela Nuñez, said this was supposed to send a message to the BCIE about their illegal political action. The BCIE has not recognized the de facto government and therefore suspended all open loans and refused to discuss new ones.